US Lobby Group Requests Indian Government to Revise Proposed Competition Law Similar to EU’s Digital Markets Act
A US lobby group representing tech giants Google, Amazon, and Apple has stirred up controversy by requesting the Indian government to revise its proposed competition law, similar to the European Union’s regulations. The group, known as the US-India Business Council (USIBC), expressed concerns that the Digital Competition Bill in India could potentially raise user costs and hinder technological advancements.
In a letter addressed to the Ministry of Corporate Affairs, the USIBC argued that the restrictions on data use and “preferential treatment of partners” outlined in the bill could impede companies from launching new features and enhancing user security. The group emphasized that such regulations may discourage investment in India, leading to increased prices and limited services for consumers.
According to reports from Reuters, the USIBC believes that the Indian law is broader in scope compared to the EU’s regulations, potentially impacting companies’ operations in the country. The Digital Competition Bill aims to regulate large digital companies with global revenues exceeding $30 billion and at least 10 million users in India, including major tech players.
On the flip side, a coalition of 40 Indian startups has voiced support for the proposed law, stating that it could help address unfair practices by dominant digital platforms and foster a more level playing field for smaller businesses. The startups believe that the Digital Competition Bill could promote competition and innovation within India’s digital landscape.
As the Indian government mulls over feedback on the legislation, there is no definitive timeline for when the bill will be presented to parliament for approval. The debate surrounding the Digital Competition Bill reflects the ongoing tension between regulating big tech and fostering a competitive environment in the digital economy. Stay tuned for updates on this developing story.